Goldman Sachs, Bank Of America Q3 Earnings Preview: Will Big Banks Maintain Their Momentum?
Portfolio Pulse from Piero Cingari
Goldman Sachs Group Inc. (GS) and Bank of America Corp. (BAC) are set to release their Q3 earnings. Analysts predict a 2.5% YoY increase in BAC's EPS and revenue, while GS is expected to see a 35% decline in EPS and a 7% decrease in revenue. BAC's stock has declined by 47% since February 2022, and GS's stock has seen a 26% decline since November 2021.
October 16, 2023 | 3:25 pm
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NEUTRAL IMPACT
Bank of America is expected to report a 2.5% increase in EPS and revenue for Q3. The stock has declined by 47% since February 2022.
While the expected increase in earnings is positive, the recent stock performance suggests a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Goldman Sachs is expected to report a 35% decline in EPS and a 7% decrease in revenue for Q3. The stock has declined by 26% since November 2021.
The expected decline in earnings and the recent stock performance suggest a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100